Vultures Are Circling Over Distressed Properties
This was a headline in Saturday’s Washington Post. Like the New York Times, you can always count on the ol’ Post to get things exactly 180 degrees wrong. Vultures? Really?? I don’t know about you, but that description sounds pretty bad. Even a bit sinister. Maybe a touch evil. They like to make ma and […]
Housing Cools, Inflation’s Up. See I Told You So . . . .
Two short months ago I wrote about the unbelievable action that the Federal Reserve took to prop up our sagging stock market by injecting billions of dollars into the economy, and that it didn’t take a freshman econ whiz kid to tell that this would undoubtedly lead to an increase in the inflation rate. Strangely […]
The Foreclosure Concierge
I started a new line of business last week. If you’ve been reading this blog, you know that I’m a big proponent of buying single family homes and holding them as long-term rentals. It’s my belief that it’s an ideal way to build real wealth. The idea had been jelling in my mind for a […]
California Dreaming . . . . .
I just got back into town after spending four days in my old stomping grounds of northern California. The San Francisco peninsula to be more specific, about halfway between San Francisco and San Jose. My wife and I lived there for six years after grad school until we moved to Michigan. The occasion was my […]
Get Ready for the Tidal Wave . . . .
I received an interesting call yesterday. Turns out the caller, who’s part of a fairly large and well known real estate company (at least around the Detroit News classified ads), had just picked up a block of 100 foreclosures directly from a lender without going through a realtor. Big deal you say. Happens all the […]
Michigan out 28,000 jobs – August’s 7.4% jobless rate is 14-year high.
Excerpted from the Detroit News this morning. . . .  Michigan‘s unemployment rate in August was the worst since since September 1993.  Massive automotive buyouts and a sharp decline in residential construction were cited as factors for the state’s jobless rate. Last month 28,000 jobs were lost in Michigan, bringing the total number lost since this time […]